NEW YORK (
) -- The job market has been a giant seesaw in 2011 -- just when things are looking up, another piece of data disappoints and sentiment dips back down.
While the economy added more jobs than expected in September, the gains were not enough to bring down the nation's unemployment rate, currently stuck at 9.1%.
The latest read on initial jobless claims also fell short of expectations and remained stuck near 400,000.
Some 403,000 Americans filed for first-time unemployment benefits in the week ended Oct. 15, according to the Labor Department. The most recent weekly read ticked down by 6000.
Economists expected a decline of 4,000 to 400,000 from the originally reported 404,000 claims in the prior week. However, the prior week's claims were upwardly revised to 409,000.
While experts agree that layoffs will be less severe in 2011, companies continue to dole out pink slips.
is tracking these job cuts over the year. Click on to see what companies have announced layoffs in 2011...
said on Oct. 19 that it is laying off 380 employees in its research and development division. This represents about 6% of its total workforce.
The company said it is restructuring these operations in the effort to better allocate its research and development resources.
In its second quarter, Amgen spent 26% more in research to $808 million. In a statement, Amgen said it has experimental drugs moving into expensive, late-stage patient testing so it must shift some research and development resources to invest in the testing and other work related to getting the experimental medicines approved.
announced on Oct. 17 that it is shuttering 200 stores, resulting in 2,000 layoffs.
The home improvement products retailer expects an earnings hit of 17 to 20 cents a share from the restructuring.
The company will now open just 10 to 15 stores a year in North America from 2012 onward, down from its prior target of 30 stores annually.
"We have an obligation to make tough decisions when necessary to improve profitability and strengthen our financial position," Lowe's said in a statement.
At the beginning of the year, the company also said it would eliminate 1,700 manager positions as it cut costs to offset lackluster demand for big-ticket renovations.
While Lowe's has shed manager positions, it's created assistant manager positions and added more part-time sales workers.
New York Times
New York Times
said on Oct. 13 that it will eliminate as many as 20 newsroom positions in an effort to cut costs.
The newspaper giant plans to offer buyouts to employees, and said no one will be laid off. The Times also says it will seek additional savings in its business units.
The Times last went through a staff reduction in 2009, when it cut about 100 positions.
said on Oct. 7 that it plans to close several facilities, which will result in 1,500 job cuts.
One steel pipe manufacturing plant in Croatia will lose 1,130 jobs as it either sells or closes the plant, because it is taking too long for it to turn a profit.
The rest of the layoffs will occur across its business as it shuts down other facilities.
As a result, Commercial Metals expects pre-tax charges of $135 million to $165 million in 2011 and an additional $25 million to $40 million next year.
Wright Medical Group
Wright Medical Group
said on Sept. 15 that it plans to cut 80 workers, or about 6% of its work force, as part of its restructuring program.
The company said it is shrinking the size of its international product portfolio and adjusting plant operations, as well as other measures, in an effort to cut costs.
As a result of the restructuring, Wright Medical expects charges of between $25 million and $30 million, which should be recorded in the second half of the year.
Wright Medical foresees an adjusted EPS gain of 5 to 6 cents in 2012, and an annual earnings benefit of 8 cents a share following that.
said on Sept. 15 that it will eliminate 160 jobs from its testing unit.
The manufacturing jobs will be cut by the end of 2012. The work will be outsourced to contractors.
The layoffs are part of a larger restructuring program Abbott Labs announced in January. At that time, the company said it will lay off 1,900 employees, or 2% of its work force.
As a result of the restructure, Abbott expects to incur about $295 million in charges over the next few years, including about $165 million in 2011.
The latest round of layoffs come after Abbott handed out pink slips to 3,000 employees in September 2010.
Bank of America
Bank of America
confirmed it will slash 30,000 jobs over the next few years.
The layoffs will save the giant bank $5 billion in costs.
"As the decisions are implemented, employment levels in the areas under review during Phase I are expected to be reduced by approximately 30,000 jobs over the next few years," the bank stated. "The company expects that attrition and the elimination of appropriate unfilled roles will be a significant part of the anticipated decrease in jobs."
This makes Bank of America the company with the biggest layoff announcement this year, according to global outplacement firm Challenger Gray & Christmas.
In August, the company said it will layoff 3,500 workers by the end of September across multiple divisions.
Bank of America already announced 2,500 layoffs this year, most recently eliminating 100 positions in Connecticut. This is part of a cost-cutting program announced in May.
announced on Sept. 8 that it is laying off 400 employees.
The job cuts will occur in Maine, New Hampshire and Vermont and include 100 management positions and 300 union workers.
FairPoint said it is cutting jobs to match its work force to its work load, which has been decreasing in recent years as customers cut the chord on landline telephones.
FairPoint provides landline telephone and Internet services in 18 states.
said on Sept. 8 it will cut 500 positions, or more than a quarter of its work force, due to disappointing sales of its prostate cancer therapy Provenge.
The job cuts are expected to cost the company $21 million, but Dendreon did not reveal how much it will save as a result of the layoffs.
Dendreon did say that after the job cuts it should be able to break even with about $500 million in annual sales of Provenge.
As of June, the company had 1,915 employees.
Delta Air Lines
Delta Air Line
announced on Sept. 7 that it will lay off 200 administrative workers.
Most of the layoffs will occur at Delta's headquarters in Atlanta. Those being laid off will receive severance pay.
In July, Delta previously said that 2,000 workers had accepted voluntary buyouts.
This job reduction occurs as Delta reduces its schedule more than expected this fall. The layoffs will help offset cost pressures.
Delta employs about 80,000 workers worldwide.
plans to cut 3,000 jobs in Hong Kong over the next three years.
This is part of the first wave of global layoffs the bank announced in August. HSBC previously said it will slash 30,000 jobs by 2013, more than the 10,000 layoffs Wall Street previously expected.
As part of the restructure, HSBC will sell nearly half of its U.S. retail bank branches. Most of the branches expected to be sold are in upstate New York, while several others are in Connecticut.
The bank employs about 23,000 people in Hong Kong and 296,000 worldwide. It has already cut 5,000 jobs so far this year.
said it will shutter a plant in Tennessee, resulting in about 60 layoffs.
The closure of the Nashville plant, which will occur no later than Feb. 29, 2012, will result in charges between $8 million and $10 million. The company did not specify when these charges would be taken.
Production of about 24 million pounds of engineering plastic will be moved to plants in Ohio. A. Schulman plans to invest about $7 million to create technical compounding capabilities and about 20 new jobs in the Akron, Ohio, facility.
The restructuring is expected to save the company $4 million to $5 million annually before taxes.
A. Schulman also lowered its full-year forecast, citing weakness in the economy.
said on Aug. 23 that it plans to eliminate about 20 jobs and its chief financial officer is stepping down as part of its restructuring plan.
The drug delivery technology company, which employs about 215 people, is reducing its work force by 9%. The shakeup will include the departure of Financial Chief Philip Ankeny and human resources vice president Jan Webster.
SurModics is also closing a factory in Owings Mills, Md., moving production to its headquarters in Eden Prairie, Minn. The company is also exploring strategic alternatives for its pharmaceuticals business.
The restructuring will result in one-time charges between $1.1 million and $1.4 million.
announced on Aug. 23 it was axing 3,500 jobs.
The financial firm said that more than half the layoffs will occur in investment banking.
"The measures announced today are designed to improve operating efficiency. UBS will continue to be vigilant in managing its cost base while remaining committed to investing in growth areas," UBS said.
The layoffs will save UBS $2.5 billion annually, the Swiss bank said.
Ahead of the financial crisis, UBS had slashed about 14,000 jobs to about 64,000 employees, but within the past year it has grown its work force to about 65,700.
Bank of New York Mellon
Bank of New York Mellon
said on Aug. 10 that it will eliminate 1,500 jobs, or about 3% of its staff.
The bank did not provide much detail about the layoffs, only saying it will release more information by the end of the year. An exact timetable or in what departments the job cuts will occur have not been determined.
Bank of New York is planning a hiring freeze and will begin trimming temporary workers.
The company said it will take a restructuring charge in the second half of the year, but did not indicate the amount.
said on Aug. 3 that it is laying off 442 workers at its Connecticut facility.
The department store is shuttering the facilities dot-com unit. The last day for those receiving pink slips will be Sept. 30.
J.C. Penney has been lagging its rivals, with same-store sales rising 2% in June, falling short of Wall Street's estimates.
announced on Aug. 3 that it will close two plants and eliminate jobs.
The company said it will close a Union City, Ind. plant, resulting in 225 layoffs, and will do away with another 450 jobs in its Monaco recreational vehicle unit.
Navistar will shift some production to its plant in Wakaruse, Ind., where it will add about 400 new jobs, and some work going to its corporate campus in Lisle, Ill.
The company will also shutter a truck manufacturing plant in Chatham, Ontario that has been idled for two years due to a labor dispute. Navistar previously laid off 300 workers at that plant in June 2009.
As a result of the layoffs, Navistar will be hit with a charge of $100 million to $130 million to close the Chatham plant, as well as another $100 million in charges to consolidate its other units. Most of the charges will be realized in the third and fourth quarters, with the rest in 2012.
Navistar expects the restructure to save between $20 million and $30 million annually.
said on Aug. 2 that it plans to announce job cuts in the coming weeks following a 38% plunge in profits during the first half of the year.
Earlier in the year, the company said it would review all aspects of the business to find ways to cut costs and improve profitability. Since then, Barclays has decided to put its Russian retail operation up for sale.
Barclays is currently in the process of eliminating about 3,000 jobs this year, with 1,400 already cut in the first six months of 2011.
said on July 29 that it will cut 13,000 jobs as its patents expire.
The layoffs amount to a 14% staff reduction and result in $1.3 billion in cost cuts by the end of 2015.
"The realities of our environment dictate the need to operate more flexibly and nimbly from a lower cost base," Chief Executive Kenneth Frazier said on a conference call as Merck reported second-quarter profit on Friday.
Next year, Merck will lose protection for its top-selling drug, Singulair, which raked in nearly $5 billion in sales in 2010.
These layoffs are on top of 17,000 job cuts already planned.
said on July 28 that it will eliminate 2,000 jobs, or 4% of its workforce, in an effort to reduce costs.
This comes after Credit Suisse reported disappointing second-quarter results, with its profit being slashed by more than half.
The job reductions will affect staff globally, including about 500 in Switzerland, where it is based. Credit Suisse has 50,7000 employees around the world.
Credit Suisse expects the layoffs will save the company 1 billion francs by 2012.
( RIMM) said on July 28 that it will eliminate between 1,200 and 1,400 jobs worldwide over the next two years.
The layoffs will hit about 6% of the company's total headcount of about 25,000.
Boston Scientific did not reveal in what departments or regions the job cuts will occur.
The layoffs are expected to save the company between $225 million to $275 million annually by the end of 2013. Management said it will use some of that savings to invest in growth opportunities.
Research In Motion
Research In Motion
( RIMM) said on July 25 that it will slash 2,000 positions, or about 11% of its work force, as part of its cost optimization program.
Expenses related to the layoffs will be disclosed on Sept. 15.
The layoffs will look to reduce redundancies and reallocate resources to focus on areas that offer the highest growth opportunities.
The job cuts will reduce RIM's work force to about 17,000 employees around the world.
After much anticipation,
said on July 18 it plans to slash 6,500 jobs.
This amounts to about 9% of its total workforce. The company plans to reduce its costs by about $1 billion annually with the layoffs.
Cisco expects to take a $1.3 billion charge as a result of the restructuring.
Earlier in the year, Cisco said it's discontinuing its Flip Video business, resulting in 550 layoffs.
Just two years after starting the division, Cisco called it quits, opting to shut down the unit rather than try to sell it.
announced on July 15 that it plans to eliminate 60 jobs.
The layoffs will include both staff and managerial positions. Most of the pink slips will be doled out at its headquarters in Lebanon, Tenn.
This is part of the restaurant chain's cost-cutting measures. Cracker Barrel expects to save $110 million annually before taxes as a result of the restructure.
The company said the layoffs will lower its fourth-quarter income from operations by $4 million to $5 million, and earnings per share by 14 cents to 17 cents. These charges were not factored into Cracker Barrel's prior fourth-quarter guidance.
Ethernet networking technology company Extreme Networks said on July 14 that it will slash 110 jobs, or about 16% of its total workforce.
The company is consolidating much of its software engineering resources, while boosting its investment in research and development.
Extreme Networks expects these layoffs will reduce costs by about $20 million in fiscal 2012.
As a result of the restructure, Extreme Networks plans to incur a charge of about $3.5 million in the fourth quarter and lowered its outlook for the three-month period.
The company now foresees a loss between 2 cents and 4 cents for the quarter, which includes restructuring charges.
Spanish telecom giant
received approval on July 14 to slash 6,500 jobs through 2013.
The move would reduce the company's workforce by 20%.
As part of the agreement with Spain's Labor Ministry, workers affected will receive 68% of their salary until they reach retirement age. Telefonica will also pay $500 million into a government fund designed at finding jobs for older workers.
Telefonica employees about 32,000 workers in Spain.
plans to lay off 80 temporary employees in its home mortgage unit.
These workers, which were given a 60-day notice on July 13, were hired in October to help process loan applications. Those being let go can apply for other Wells Fargo positions and will receive severance benefits.
This is the third round of layoffs of temporary employees at Wells Fargo this year. In March, the company said it was cutting 200 temporary positions in its mortgage division and in February the company cut 142 shot-term positions.
But Wells Fargo is also hiring. The company said on July 14 that it is hiring 175 workers in Idaho. About 150 of these workers will be hired by August at the customer service center in Boise and the other 25 are teller and banking positions that will be filled across the state.
will lay off 74 workers at its Aetna facility in Kansas City, which it plans to shutter by the end of the year.
The Kansas City Business Journal
reported that the drugstore, which uses the facility to fill mail-order perscriptions, is closing the locations in order to streamline its business.
This comes shortly after 250 workers at a call center in Texas received pink slips. The layoffs took place at its Richardson, Texas, call center due to a restructuring of operations.
News of the World
, will fold on Sunday, leaving about 200 people unemployed.
The media conglomerate said staffers can apply for other jobs at the company.
The closing of the 168-year-old newspaper comes as it is embrioled in a phone-hacking scandal that has launched a government investigation.
The allegations include
News of the World
hacking the phone of a murdered 13-year-old girl, deleting messages and interfering with the police investigation.
News of the World
has also previously been sued by politicians and celebrities regarding the issue.
Over the past week, advertisers have pulled their commitments and there has been a public outcry over the ethics at the paper.
Universal Technical Institute
Universal Technical Institute
, which trains auto, motorcycle and marine technicians, said on June 30 that it laid off 195 employees nationwide, or 8% of its work force.
This comes as the company attempts to cut costs. Universal Technical expects to incur $4.3 million in charges as a result of the layoffs in the third quarter. But it is expected to save $12.4 million in fiscal 2012.
Universal Technical Institute now has 2,270 employees at its 11 campuses.
"While a reduction in our work force was a difficult decision given the impact to our employees and their families, it was a necessary action to appropriately align our cost structure with our student population," said CEO Kim McWaters.
said on June 30 that it plans to eliminate 15,000 jobs by 2014.
The company, which is partially owned by the British government, also will scale back its overseas business.
Lloyds expects the restructuring to save $2.4 billion annually by the end of 2014.
In March, Lloyds announced that it will cut 570 positions as part of its ongoing restructuring following its acquisition of HBOS in 2008.
Lloyds has slashed 26,000 jobs since the start of the financial meltdown.
( PRX) said on June 29 that it will eliminate 100 positions to shift its focus on its vitamin B12 nasal spray and appetite loss drug.
The cuts will take place in Par Pharma's Strativa Pharmaceuticals division.
The company expects the layoffs to save between $8 million and $12 million for the rest of the year.
As of December 2010, the generic drugmaker had 686 employees.
announced on June 28 that it is cutting 770 jobs as part of its restructuring.
The company expects the layoffs to save about $60 million over the next year.
The layoffs will reduce Campbell's total staff by about 4%.
As part of the restructure, Campbell also said it will shutter its Moscow office and exit the Russia market. Campbell had been operating in the country for four years.
These moves come ahead of Denise Morrison assuming the roles of president and CEO on Aug. 1.
Wood products maker
said on June 27 that it may consolidate or divest underperforming assets and cut jobs due to weak sales.
"Retail sales during what is historically our busiest selling season didn't materialize as expected this year," Chief Executive Michael Glenn said in a statement.
The company did not disclose how many jobs will be eliminated.
Universal Forest expects the restructuring to save $10 million annually, before one-time charges for severances related to the layoffs.
announced on June 21 that it is laying off 700 employees, or 2% of its workforce.
Bob Dickey, the president of the company's U.S. newspapers division, said on Gannett's blog: "While we are seeing improved circulation results and audience growth, weakness in the real estate sector, slow job creation and now softer auto ad demand continue to challenge revenue growth in the division."
Gannett will also have furloughs in the coming months in an effort to reduce the number of employees being let go.
"It is important to note that these decisions do not reflect individual performance and we thank and respect those employees for their work. We will do everything we can to help them and to minimize the impact on our other employees going forward," Dickey said in the memo.
Research In Motion
Research In Motion
( RIMM) said on June 16 that it plans to slash an unspecified number of jobs.
The layoffs are part of the company's "cost optimization program" and RIM did not reveal how much of a charge it expects to incur in relation to these actions.
During its first-quarter conference call, co-CEO Jim Balsillie said the job cuts were part of an effort to streamline its business, which has grown at a rapid pace over the past several years, and were not reflective of a restructuring.
"We just have been so busy growing and launching products, I think this is the right time for to us go back and step back and just make the system more efficient," he said.
The news of layoffs comes after RIM reported a drop in its first-quarter earnings and cut its full-year forecast.
laid off about 700 employees who sell appliances at 225 Kmart stores, according to the
Wall Street Journal
The department store will no longer employ workers dedicated to selling appliances at its Kmart chain, according to the newspaper. Store staff will be trained to answer shoppers' questions regarding appliances.
Kmart employs about 100,000 workers.
Sears has been struggling to turn around its sagging sales, bringing on a new chief executive earlier in the year to attempt to get back on track.
said on June 14 that it will eliminate 1,200 jobs in its space systems equipment division.
Pink slips will be doled out around the country, decreasing the staff in the unit by 8%. But the areas most affected will be those where contract work is winding down, such as Sunnyvale, Calif., and Denver.
Lockheed said it will offer voluntary layoffs to eligible salaried employees to minimize layoffs.
This comes on top of news last month that the company will cut 300 positions at its Greenville, S.C., aircraft maintenance facility. Lockheed Martin will begin doling out pink slips at the facility at the end of June. The Greenville facility employs about 1,100 workers.
said on June 14 that it will cut 225 jobs at its Wichita, Kan., defense plant through the end of this year. The company blamed the end of several programs and adjustments in aircraft maintenance cycles for the layoffs.
Boeing will send out the first batch of layoff notices on June 17.
"This reduction of positions is necessary to help our business reduce cost and improve productivity," said Mark Bass, vice president and general manager of Boeing's Defense, Space & Security's Maintenance, Modifications and Upgrades facility. "Our goal is to remain affordable and competitive, and ensure future growth in the airplane modification business in Wichita."
plans to shutter its Aberdeen, Md., facility, which could result in up to 52 layoffs.
This comes as the company's contract to provide information technology trainers to an Army school at the Aberdeen Proving Ground is ending as a result of the nationwide base realignment and closure effort.
The Aberdeen facility will begin to close on July 15 and be shut by Sept. 15.
General Dynamics employs about 90,000 workers around the world.
said on June 9 that it will lay off 150 employees at a Buffalo plant. The job cuts are due to a planned closing of a Canadian assembly plant it supplies.
The plant will continue to supply Ford's Oakville, Ontario, assembly plant, which makes the Ford Edge and Ford Flex and Lincoln MKX and MKT.
The layoffs will take effect on Sept. 5. The plant currently has 650 hourly workers. If the Buffalo plant gets more work, Ford could re-hire some of the workers.
announced in early June that it plans to shutter a distribution and sales center in Indiana, which will result in about 40 layoffs.
The facility will be consolidated into five other Coca-Cola plants. The plant is expected to close by June 30.
Workers at the facility will be able to apply for other jobs within the company.
In an effort to retain its profitability,
announced on May 26 that it will shutter five factories and cut its workforce by 2.8%.
The ketchup maker will
let go between 800 and 1,000 workers
in fiscal 2012. The company has about 37,000 employees around the world.
Two of the factories that are closing are in the U.S., two are in Europe and the last is in the Pacific region, but Heinz did not specify which of the factories in these regions will close.
announced on May 25 that it will relocate 70 jobs from a Massachusetts facility to Rhode Island and cut another 75 positions at the plant.
The restructuring will occur in the second quarter, but the company said it will not affect its 2011 outlook.
The layoffs are part of Hasbro's plan to create a new center for game development. The company will receive $1.6 million in tax breaks from Rhode Island over the next three years, as it plans to add 300 new jobs in the state.
It was reported in May that
( SLE) plans to layoff 62 workers at its Exton plant in Pennsylvania.
The job cuts will occur on June 30.
The plant, which handles household and personal-care products, will fully shutter later in the year as part of the company's reorganization.
announced on May 13 that it will lay off 200 workers, mostly in the Baltimore area.
The job cuts will occur at the Electronic Systems division's Linthicum headquarters and facilities in Annapolis, as well as in Sykesville and Elkridge. Locations in Virginia, Connecticut and Florida will also be affected. The layoffs will be effective on May 31.
Northrop also said 600 workers were approved for buyouts, but this wasn't enough to avoid the layoffs.
In March, the company said it would eliminate 500 positions, predominantly in Baltimore, due to a slowdown in defense spending.
In June 2010, 150 workers were laid off from facilities in Linthicum and Annapolis.
warned 900 workers in the U.K. that their jobs may be at risk in May, according to reports.
The drugmaker plans to shutter a facility in Kent, the
reported. The facility employs 2,400 people.
Pfizer is looking to transfer several hundred of the employees to other locations.
( PC) announced on April 28 one of the biggest layoffs of the year.
The home appliance maker said it will slash 17,000 jobs over the next two years, as losses mount at the company. Its workforce will shrink to 350,000 workers from 367,000, a nearly 5% cut.
Panasonic had already been laying off workers, reducing its headcount from 385,000 workers last year.
As part of the restructure, Panasonic said it will streamline its operations to boost profitability and is considering shedding some assets.
announced on April 27 that it will slash 4,000 jobs by the end of 2012.
The company also said it will transfer its Symbian software operations to
, displacing another 3,000 workers in China, Finland, India, Britain and the United States.
A majority of the 4,000 layoffs will come from Denmark, Finland and Britain.
The news comes as Nokia is looking to reduce costs by $1.5 billion by 2013 as it begins its new partnership with
Nokia said it plans to consolidate its research and product development sites "so that each site has a clear role and mission. Nokia expects the expansion of some sites and the contraction or closure of others."
( EK) sent a letter to state officials that it will close another Qualex office in Durham and outsourcing its work to another location, according to a report. This will result in the layoff of 48 employees.
The facility will shutter by June 13, the
Triangle Business Journal
The layoffs will affect 44 field engineer positions and four customer service supervisor positions.
Demand for Qualex, which supplied overnight film processing services to retailers, has declined as consumers print their own digital photos.
-- Written by Jeanine Poggi in New York.
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